XRP News Today: Speculation Drives XRP Rally as SEC Deadline Looms

Ripple’s XRP and Solana’s SOL are showing signs of bullish strength, even as traders brace for potential downside in Bitcoin and Ethereum amid heightened market uncertainty. The recent 3% intraday price increase for XRP on September 7 marked it as the second-best performer among the top 10 cryptocurrencies, trailing only Dogecoin, which rose by 4%. This surge was driven largely by speculative activity, particularly from high-leverage traders anticipating developments around upcoming U.S. Securities and Exchange Commission (SEC) decisions regarding cryptocurrency exchange-traded fund (ETF) applications [1].

The XRP price movement was supported by growing speculation around the SEC’s October 18 decision window, with seven asset managers reportedly filing XRP ETF proposals between October 18 and 25. Analysts and community influencers have been highlighting these key deadlines, further amplifying market sentiment. The price rally on September 7 coincided with a 10.3% decline in 24-hour trading volume, suggesting that the move was more about speculative positioning rather than broad-based demand [1].

Derivatives activity also underscored this speculative trend. Data from Coinglass showed a 17% rise in XRP futures trading volume and a 3% increase in open interest, indicating that traders are opening new long positions ahead of potential regulatory outcomes [1]. If this speculative demand continues, XRP could outperform broader market headwinds, especially with multiple ETF filings under review.

Technically, XRP is consolidating near $2.88, with Bollinger Bands narrowing between $2.70 support and $3.07 resistance. A breakout above $3.07 would signal renewed bullish momentum, supported by improving RSI readings. However, the absence of strong spot market demand and the risk of leveraged positions being liquidated in the event of negative macroeconomic shocks could cap upward movement. A breakdown below $2.70 could trigger a retracement toward $2.50, undoing recent gains [1].

Meanwhile, Solana’s SOL has also demonstrated strong performance, drawing attention for its potential in the altcoin space. While the content provided does not include detailed data on SOL, the broader context of speculative demand and regulatory anticipation suggests that both XRP and SOL are benefiting from similar market dynamics [1]. Traders are increasingly hedging their positions in Bitcoin and Ethereum, reflecting uncertainty about the broader crypto market.

In a related development, rumors surfaced that SWIFT was testing XRP and Hedera tokens for cross-border transactions, though no official confirmation was provided. SWIFT, which processes approximately $190 trillion in international transfers annually, has been cautious in its approach to integrating cryptocurrencies, emphasizing the importance of trust infrastructure alongside technological innovation. The timing of these potential trials appears inconsistent with the ongoing transition to the ISO 20022 standard, suggesting that any integration with XRP or other cryptocurrencies is likely to be a slow, deliberate process [2].

Despite the absence of official validation, the mere possibility of SWIFT testing XRP has fueled investor optimism. However, analysts caution that the current market environment reflects high expectations relative to tangible progress, making XRP more of a “hold” than a “buy” recommendation for the near term. Long-term integration with SWIFT or similar systems remains a possibility, but it is unlikely to materialize in the short term [2].

As the market continues to balance speculative optimism with macroeconomic caution, XRP and SOL appear to be among the cryptocurrencies most positioned to capitalize on potential regulatory developments. However, traders remain wary of the risks associated with leveraged positions and broader market volatility, particularly in Bitcoin and Ethereum.

Source:

[1] Ripple (XRP) Price Moves Toward $3 as Community (https://finance.yahoo.com/news/ripple-xrp-price-moves-toward-215804400.html)

[2] SWIFT & Ripple (XRP): Frenemies or Just Foes? (https://www.nasdaq.com/articles/swift-ripple-xrp-frenemies-or-just-foes)